When most people think of a cryptocurrency, the first thing to come to mind is probably Bitcoin. But Bitcoin is just one of many. At the moment, there are over 1275 cryptocurrencies, with a total market cap of over $200 billion, each of which offers different values and benefits.
Unlike traditional currencies like dollars and euros, which have a fixed value regardless of how and where you use them, different types of cryptocurrencies and tokens perform differently and are designed to solve various issues and problems in the digital world. A dollar or euro has the same value whether you use it to buy a shirt at Target or a book on Amazon, but the different cryptocurrencies are designed to offer users specific features, like the ability to purchase goods and services anonymously, or to facilitate a particular action, like raising money online.
The current cryptocurrency marketplace has been likened to a “Wild West”, with massive daily fluctuations. It is still in the infancy stage and is likely to continue to grow apace with technological developments and consumer appetite for more decentralised and democratic systems.
Five Cryptocurrency Trends
The cryptocurrency market is developing at a rapid pace and trends come and go. Nevertheless, there …